Pinnacle Bank and the city of Fort Worth’s Local Development Corp. closed out two agreements, and construction of the five-story Pinnacle Bank Place on West Lancaster Avenue downtown will begin early this year.
Pinnacle committed to loan the LDC $16.5 million to build the 160,000-square-foot mixed-use builiding, and agreed to buy the 8,500-square-foot west side of the ground floor. The bank will open a street-level, full-service branch in the retail space, and completion of the building is expected in the first quarter of 2016.
The building, on West Lancaster between Jennings and Throckmorton streets, is planned to have retail space and apartment management offices. The four floors above will have 130 apartments. Total project costs are expected at about $19.7 million.
Behind Pinnacle Bank Place will be a parking garage that will include parking for residents and tenants. Pinnacle has a 50-year lease for a drive-thru for the bank on the first floor of the garage.
“Pinnacle Bank is excited about the opportunities that abound in Fort Worth, including the burgeoning development of Lancaster Avenue,” Peter Bennis, CEO of Pinnacle Bank’s Texas locations, said. “Our heritage and long-term vision fit perfectly with the most dynamic Central Business District in Texas.”
JHP Architectural/Urban Design is the project architect, with Ibanez Architecture as consultant. Jordan Foster is the general contractor.
Sounds like things have happened. I didn't realize there would a drive through bank which is a bit disappointing (don't we already have about 5 of those laying around, abandoned?) but eh. I'm curious if the garage will take this shape,
or if it will be different. Seems like an odd layout. I've also noticed that small stretch of 15th street is no more, and the sidewalks have been placed at curb level where the road formerly cut through.
Another thing I'm wondering about is if the building in front of the ZIpper mural between Jennings and Monroe is still a part of it, or if that one has been dropped. (On the left)